Suppose Meezan Bank ltd received the following deposits during the first quarter of its operation in suburb
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Question:
Suppose Meezan Bank ltd received the following deposits during the first quarter of its operation
in suburb Islamabad:
Namedeposits in PKR deposit date withdrawal date # of days
A 200,000 01/01/09 01/03/09 59
B 600,000 15/01/0914/02/09 30
C 300,000 20/01/09 not yet 70
D 500,000 01/02/09 01/03/09 28
a) If profit of the bank for the quarter without charging for operating expenses is Rs; 300,000 and operating expenses are Rs; 200,000. While using Daily Product System what is share in profit of bank and each depositor assuming share of Rab-ul-maal is 30%?
b) If the estimated annual return was 15 percent, how much is difference in amount between actual and
estimate
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